Courtesy of Benzinga.
Helen of Troy Limited (NASDAQ, NM: HELE) announced today it has entered into a definitive agreement with The Procter & Gamble Company (NYSE: PG) to acquire all of the assets related to the manufacturing and selling of products marketed under the PUR trademark, including all of the outstanding stock of PUR Water Purification Products, Inc. The acquisition includes the world-wide PUR trademark, its current and future product line, assets related to the operations of the PUR business, manufacturing equipment, and more than 200 patents. The acquisition is expected to close by December 31, 2011, subject to customary closing conditions, including regulatory approvals.
The PUR business sells and markets a variety of high-quality water filtration products under its namesake PUR brand in the growing water purification category. PUR’s products, which include faucet mount systems and filters, pitcher systems and filters, and refrigerator filters, are sold throughout the United States. Sales for the twelve months ending December 31, 2012 are expected to exceed $110 million. The acquisition is expected to be immediately accretive to earnings.
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